Aeluma (NASDAQ:ALMU) Stock Price Down 1.2% – Time to Sell?

Shares of Aeluma, Inc. (NASDAQ:ALMU) were down 1.2% on Wednesday . The stock traded as low as $21.81 and last traded at $22.30. Approximately 1,011,273 shares changed hands during trading, a decline of 13% from the average daily volume of 1,158,858 shares. The stock had previously closed at $22.56.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALMU shares. UBS Group reiterated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Williams Trading set a $25.00 price objective on shares of Aeluma in a report on Tuesday, March 3rd. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Aeluma presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Trading Up 1.4%

The stock’s 50-day moving average is $20.81 and its 200-day moving average is $17.91. The stock has a market cap of $461.41 million, a price-to-earnings ratio of -72.00 and a beta of 3.94.

Aeluma (NASDAQ:ALMU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.22 million during the quarter, compared to the consensus estimate of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

Insider Buying and Selling

In related news, CEO Jonathan Klamkin sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares of the company’s stock, valued at approximately $59,978.88. This represents a 89.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the sale, the director directly owned 382,709 shares of the company’s stock, valued at approximately $7,650,352.91. This trade represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 52,500 shares of company stock valued at $1,011,075. Corporate insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of institutional investors and hedge funds have recently bought and sold shares of ALMU. Geode Capital Management LLC acquired a new stake in Aeluma during the 2nd quarter worth approximately $3,850,000. Vanguard Group Inc. grew its position in Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Aeluma in the third quarter valued at approximately $3,398,000. Millennium Management LLC acquired a new stake in Aeluma in the third quarter valued at approximately $3,392,000. Finally, State Street Corp grew its position in Aeluma by 34.0% in the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after acquiring an additional 54,184 shares in the last quarter.

About Aeluma

Aeluma, Inc develops optoelectronic and electronic devices in the United States. The company manufactures semiconductor materials and chips using compound semiconductors on diameter substrates that are used to manufacture mass market microelectronics. It offers its devices for use in mobile, automotive, AI, defence and aerospace, communication, AR/VR, and HPC applications, as well as laser emitters, transistors for integrated circuits, quantum photonic circuits, and solar cells applications. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.